How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it is about balancing what you believe you’re worth with the amount an employer believes they can afford. But, if it’s done correctly, it can be a positive experience for both parties that results in a better salary for the employee and greater employees’ engagement in their jobs. Here’s how to bargain your salary in confidence.
Key Takeaways
- Before you negotiate your salary, research market rates and industry standards to ensure that your salary offer is fair.
- Find out information by socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of time, including education & certificates, years of relevant experience, the results and achievements, unique skill set & capabilities, knowledge of the industry, and potential for training.
- During negotiations, be assured and confident but remain flexible and open. You should highlight tangible results you have achieved in previous positions.
- Maintain a positive mood throughout the conversation and practice active listening.
Do your research
Before you begin any salary negotiation, you need to conduct a thorough investigation of market rates and industry standards to ensure that your salary request is realistic. Factors that might impact this include experience levels, the size of your company as well as location. (?). One way to gather information is to make connections with colleagues and others within your area of work.
Research Online
With the help of some internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a an extensive view of the benchmarking range of salary companies pay for the same job. This gives you an idea of the current market prices and also other elements that are related to the position.
Your Network Is Essential
Find out more about your situation by talking with colleagues who have been in similar positions, or contacting them through professional networks as well as brainstorming members of professional associations.
Make Talk points
Preparing for any meeting is time well spent. You’ll feel more confident when presenting your case if you have a clearly defined set of talk points that you have outlined ahead of time.
Here are a few instances of things that you could consider to include in your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Performances and results
- A unique set of skills and characteristics (e.g. bilingualism)
- Knowledge of the industry
- Training potential
The idea of keeping a notepad and/or notes handy could also help during conversations so it is not lost crucial points.
Be confident & concise
When you negotiate your salary it is essential to be confident and articulate. Speak clearly about your experiences of accomplishments and your expectations. It is important to keep your tone of voice positive throughout the discussion so that the person who is hiring you feels that you’re not appearing to be unfriendly.
Highlight the tangible results
Simply saying that you are committed, hardworking, and goal-oriented might not be enough to make an impactful appeal. So put forward clear statistics about how your previous positions made a difference in companies or what are the most valuable abilities that benefit the organization.
Stay flexible
If the employer isn’t able to your salary or compensation package, remaining flexible and open-minded can allow room for dialogue. You can inquire about alternative incentives like performance-based bonus structures instead of Base salary(? ).
You must remain professional throughout the negotiation - regardless of how successfully or badly it’s going being too combative or making unreasonable demands could have a negative impact for everyone that is.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Do listen actively from any other participant during negotiations, observing requests carefully and clarifying doubts as much as you can while maintaining the their original request. Ultimately both parties should come out with acceptable results.
Take what you have learned from these discussions and incorporate them into future negotiations that you’re likely to be involved in. The tips mentioned above will go an enormous way to increasing your chances of reaching an agreement that is mutually beneficial.
| Your Network is Important | Speak to friends who have been in similar positions or reach out via the professional network as well doing brainstorming members within professional organizations. |
| Create talking points | Certification and education, Years of relevant experience, Results and achievements, unique abilities and skills (e.g. the ability to speak two languages) and industry knowledge. ability to train |
| Be confident & concise | Make sure you are clear about your experience accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Stay flexible | Ask about alternative incentives like incentive structures based on performance rather than Base salary (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Consider what you’ve learned from these discussions and incorporate them into the future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation plan for a job. Through this process you will be able to discuss not just your salary base, but also benefits like health insurance, retirement plans and much more.
Why is it necessary to negotiate salary?
Negotiating your pay can provide you a better financial future and also show that you’re confident about your worth. This can help you avoid leaving money on the table.
How soon should I negotiate a salary?
It’s best to begin negotiating after receiving an offer so that everyone is aware of the terms being negotiated. Then, the discussions are focused on negotiating the best terms, while avoiding any unpleasant surprises.
What happens if I am completely satisfied with the deal I received without negotiation?
If you accept an offer and are content with it, then there may be no need to bargain. But it’s important to provide clear information about what your employer’s expectations in terms of things like rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when I change careers entirely?
Negotiating salary when you change careers may require more training because your previous work experiences might not translate or relate to the new duties. Find out what similar jobs in similar industries pay, to develop a thorough idea of what realistic expectations are for yourself, given the particular circumstances you face.
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